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Publications

Not-for-Profit Entities - Audit and Accounting Guide

Publisher: AICPA
  • $79.00-$99.00
    Not-for-Profit Entities - Audit and Accounting Guide In Stock Product #: AAGNFP17P
    AICPA Member: $79.00
    Non-Member: $99.00
  • $69.00-$89.00
    Not-for-Profit Entities - Audit and Accounting Guide eBook Download Product #: AAGNFP17E
    AICPA Member: $69.00
    Non-Member: $89.00
  • $99.00-$129.00
    Not-for-Profit Entities - Audit Guide and Audit Risk Alert Online Access Product #: WNP-XX
    AICPA Member: $99.00
    Non-Member: $129.00

The 2017 edition provides assistance in the unique preparation, auditing, accounting and reporting of financial statements for not-for-profit entities.

This edition includes guidance on reporting donated services between affiliated NFPs, split-interest agreements, contributions and grants, functional expenses and joint costs, and much more.

FASB ASU No. 2016-14 Coverage - For those nonprofits who are considering early adoption, this new edition provides an appendix which includes insight into and some examples updated for the new FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. It offers an overview of the standard and assists you in determining whether to adopt the new requirements early.

Key Benefits

  • Properly report complex revenue and expense transactions that have a material effect on financial reporting
  • Gain an understanding of the accounting issues that are unique to NFPs, such as donor restrictions on contributions
  • Understand the unique audit areas in NFPs and how to address the risk of material misstatement
  • Properly account for the relationships between NFPs and other entities
  • Understand the disclosure requirements related to reporting transactions that are common to NFPs

Updates

The 2017 edition provides updates related to the following:

  • The new FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.
  • FASB ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern
  • SAS No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern
  • FASB ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)
  • FASB ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the Emerging Issues Task Force)
  • FASB No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs
  • FASB ASU No. 2017-02, Not-for-Profit Entities—Consolidation (Subtopic 958-810): Clarifying When a Not-for-Profit Entity That Is a General Partner or a Limited Partner Should Consolidate a For-Profit Limited Partnership or Similar Entity

Who Will Benefit

Preparers and auditors of not-for-profit financial statements

Discounts

Bundle and Save

Get even more value with the Not-for-Profit Entities: Audit & Accounting Set. This convenient bundle gives you access to the full range of Not-for-Profit content offered by the AICPA, all in one convenient online subscription. This online bundle includes how-to advice and authoritative guidance, valuable discussion, best practices, and much more. Follow the link above for more details.

OR

This product is also available in an online subscription format that includes the corresponding Not-for-Profit Entities Industry Developments-Audit Risk Alert, content updates and unlimited online access for 1 year. Select the Online Subscription option and save!

Not-for-Profit Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the NFP Section

Table of Contents

System Requirements

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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